USDCHF Long Setup
Analysis
1. USDCHF daily candle closed as a pinbar at support (Rejection of lower price intraday)
2. Stoch/RSI showing bullish divergence as price is making lower lows which is implying weakening of sellers
3. Stoch/RSI coming out of "oversold" areas on daily chart
Trigger
Set pending buy stop on the break of the pinbar candle's highs
Trade
-Set stops below the lows of the pinbar candle and targets around 0.9700 to 0.9720.
-A solid 1:2 risk to reward ratio could be achieved as targets fall within the range.
1. USDCHF daily candle closed as a pinbar at support (Rejection of lower price intraday)
2. Stoch/RSI showing bullish divergence as price is making lower lows which is implying weakening of sellers
3. Stoch/RSI coming out of "oversold" areas on daily chart
Trigger
Set pending buy stop on the break of the pinbar candle's highs
Trade
-Set stops below the lows of the pinbar candle and targets around 0.9700 to 0.9720.
-A solid 1:2 risk to reward ratio could be achieved as targets fall within the range.
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.